Cost in the implementation of the international standard of financial information of income tax in SMEs

Abstract

Introduction: The International Financial Information Standards were conceived as standards of general application for all types of companies; Consequently, its application began with the large organizations that traded on the stock market, since it was urgent to have internationally comparable information to support decision-making. Objectives: it is to determine the cost in the application of the IFRS regulation for SMEs specifically of deferred taxes since around 18 countries in the world have decided not to adopt this regulation. Methodology: Descriptive research was used for the development of this research, which allows presenting a point of view on a particular topic, providing arguments and evidence of the bibliographic review carried out. Results: When trying to implement the Accounting Regulations for SMEs, it turned out to be too complex because they did not have sufficient material, technological and human resources and even the benefit in the application of certain regulations was debatable. Conclusions: There are countries that refuse to implement the IFRS for SMEs because they consider them incomplete, however, according to the utility paradigm, only information that serves for decision making should be represented in the financial statement.